Euro Stabilizes Near 1.1713 as IFO Weakness Meets Oil Volatility; 1.1800 in Focus

The EURUSD pair gained slightly despite weak German IFO sentiment data. During the trading day, the pair recorded its highest  point at 1.17184, and its present valuation hovers approximately at 1.17132.

Though the number is still pending in the most recent reports as of 4:58 PM IST (see ifo.de for the ultimate reading), Germany's ifo Business Climate Index for April 2026 was issued today at 10:00 AM CEST. March's print came in at 86.4 (revised from 88.4) and just edged the 86.1 prediction, indicating lingering pessimism linked to Iran-related uncertainty. With increasing instability and energy volatility, expectations for April ranged from the mid-80s (roughly 85.0 to 86.4). Current conditions were stated at 86.7 while expectations dropped to 86.0 from 90.2—the weakest since early 2025. Sector analysis shows energy-related sectors hit hardest and manufacturing suffering the steepest decrease in expectations; trade and services dropped only slightly under inflation pressures. Ifo President Fuest warned that recovery hopes had stalled because of the war in Iran, highlighting the increased danger of a broader slowdown in the Eurozone as a result of oil shocks linked to Hormuz.

Major support- 1.1700/1.1660/1.1600. Near-term resistance-1.1800/1.18500/1.1925

It is good to sell on rallies around 1.1728-30 with SL around 1.1770 for a TP of 1.1600.